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CEZ: the 1.1 billion euro investment at Cogealac is blocked again due to divergences between two state authorities 

de A.C.
Marţi, 31 august 2010, 18:01 English | Top News

CEZ said that, despite the fact that the company complied to all legal requirements to build the eolian park at Fantanele and Cogealac, South East Romania, the 1.1 billion euro investment is blocked again due to divergences between two state institutions. 

The investment is currently blocked without solid legal grounds, which questions the climate created to foreign investors. Construction works in Cogealac were ceased by Constanta's Territorial Inspectorate chief Gigi Chiru who accused that the company does not have all authorization documents. 

CEZ accuses that the company did not receive an official address from the officials but they found out from a press conference organized by the Romanian officials. The contruction of the park in North of Constanta is planned in two stages: the first 139 wind mills will be built at a capacity of 347.5 MW and will be opened by the end of the year. 

The second stage, in Cogealac will produce 252.5 MW and will include 101 wind mills and is scheduled to be finished by the end of 2011.

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